Article

 

STRATEGIC COMPETITION ANALYSIS AND GROUP MAPPING: THE CASE OF THE GREEK INSURANCE INDUSTRY (p.41-65)

by

Yiannis Yiannakopoulos, Hellenic Open University

Anastasios Magoutas, Hellenic Open University

Panos Chountalas, Hellenic Open University

Keywords : Strategic management models; Competition analysis; Strategic group mapping; Insurance industry

JEL classification : G22, L11

Abstract

This study aims to investigate the use of classic strategic management models for the competition analysis of the Greek insurance industry. In this direction, the application of the macro-environment analysis model, the industry life cycle model and the Porter’s five forces model is concisely described. Special focus is put on the application of the strategic group mapping model, in order to examine the comparative positions of rival firms. The aforementioned models are applied to the Greek insurance industry for the decade 2004-2013 and conjointly reveal the factors that force and transform the competition environment. Results demonstrate that an analyst using classic strategic models can monitor the competitive dynamics and identify opportunities and risks for the Greek insurance companies.